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Tuesday, March 23, 2010

Lunch On Wall Street--- On March 25, 2010

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Before we talk about Lunch on Wall Street, I would like to say that I did not have my lunch yet, because I was full of excitement to see how to the market would react to the price levels predicted by the models. Today is March 25, 2010. I started watching the market some time close to Noon. QQQQ was at 48.60 (hairs from the $48.77 level), SPY was at $118.05 (also hairs from the $118.49 level, and DIA right at the level of $109.25. (If you are have signed up as a member, you have received the URL to the report where these numbers were issued hours before market opened on March 24, 2010).

Now back to Lunch on Wall Street. If they tell you that everyone is served on Wall Street, they would not lie to you. If they tell you that they serve everyone at the table, they would not lie to you either. And if they tell you that they serve you according to your orders, they do not lie to you either.

The question that should be on the mind of a guest on Wall Street is whether they will be served as a guest or as the lunch? No one wants to be a lunch, but it is true that both the lunch and the guests are "served" on Wall Street!

Soon after lunch time was finished today, the market retreated sharply. It was quiet amazing to watch the retreat. If you missed it, pull a chart and review it. This retreat is similar to what bears can do when they raid the street.

I asked a person what he thought of that sharp retreat. He said, "It is just profit taking", and strangely added "this bull has legs!". I wondered where he got his knowledge. Do they still say that on financial networks? I do not watch them anymore, and typically do not read the financial news, as I have found that it makes me blind---I try to only read the market ticker!

Now, back to the "profit taking" issue. I asked a question to my friend: Who pays for the profit taking?

I will give that person's answer and my answer in a next post. In the meantime, I would like you to ponder and answer the same question: who pays the profits on Wall Street? Please post your answers, and/or email it back. We can even make your answer as a post on this site if you wish.

That is it for Lunch on Wall Street for March 25, 2010. It is time for me to get something to eat, because I am starving!

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Happy trading,


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